General Motors (NYSE: GM) is recently up 54 cents to $21.15 on unconfirmed chatter Kirk Kerkorian's Tracinda has taken a position in GM.
GM call option volume of 17,266 contracts compares to put volume of 11,950 contracts. GM April 22.5 straddle is priced at $2.53, May is at $4.51. GM May option implied volatility of 73 is above its 26-week average of 53 according to Track Data, suggesting larger price movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
General Motors (NYSE-GM) is recently up 54c to $21.15 on unconfirmed chatter Kirk Kerkorian's Tracinda has taken a position in GM. GM call option volume of 17,266 contracts compares to put volume of 11,950 contracts. GM April 22.5 straddle is priced at $2.53, May is at $4.51. GM May option implied volatility of 73 is above its 26-week average of 53 according to Track Data, suggesting larger price movement.
M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
